Pyrateer Demo

Actuarial Analysis

• See Excel file

Pyrateer Package

• Python rating engine
• Uses base class for quick implementation of new subclasses
  • ConstantFactor was added later in a matter of minutes
• Overloads arithmetic operators so ROC formulas can be typed directly

rate_plan = asset_size * (limit - retention) * industry * loss_cost
json_input = {
    "Asset Size": 1_200_000,
    "Limit": 5_000_000,
    "Retention": 1_000_000,
    "Industry": "Hazard Group 2"
}
print(rate_plan.calculate(json_input))

Classes

• RatingFactor: base class
  • NumericFactor: numeric inputs
  • CategoricalFactor: categorical inputs
  • ConstantFactor: no inputs
  • CompoundFactor: the result of arithmetic operators

Compound Factors

Created with arithmetic operators

Has a special calculate function that calculates the component objects and combines them using the provided operator

graph TB
    p1[Product] --> p2[Product]
    p1 --> LC[Loss Cost Factor]
    p2 --> p3[Product]
    p2 --> I[Industry]
    p3 --> A[Asset Size]
    p3 --> D[Difference]
    D --> L[Limit]
    D --> R[Retention]

Rate Plan PDFs

See rate plan pdfs

Room for Improvement

• Tree navigation functions
• Interaction Factors
• JSON rate_plan definition (better than pickling)